ECONOMY

SALEM ECONOMIC INDEX: Indicators show the Salem area economy is roaring back

A ‘now hiring sign outside of a Les Schwab Tires location on Lancaster Drive on Friday, May 28. (Amanda Loman/Salem Reporter)  

The median price of a house in Salem and Keizer continues to climb as fewer are sold. Despite the demand for housing, builders pulled fewer permits in May. The number of continuing claims for unemployment benefits in Marion and Polk counties ticked downward as employers are posting more help wanted ads.

 

Home sales (lots under a half acre) – Salem/Keizer

May 2021: 275

April 2021: 303

March 2021: 274

February 2021: 195

May 2020: 226

Median price:

May 2021: $385,000

April 2021: $365,000

March 2021: $375,000

February 2021: $355,080

May 2020: $317,250

Source: Willamette Valley Multiple Listing Service

Continuing claims for unemployment

Marion County

May 2021: 2,860

April 2021: 3,013

March 2021: 3,172

February 2021: 4,218

January 2021: 4,730

May 2020: 12,927

January 2020: 2,268

Polk County

May 2021: 650

April 2021: 693

March 2021: 751

February 2021: 931

January 2021: 1,034

May 2020: 2,719

January 2020: 502

Source: Oregon Employment Department

Salem area average hourly earning

May 2021: $25.11

April 2021: $24.30

March 2021: $24.07

February 2021: $24.34

 May 2020: $23.81

Source: Federal Reserve Bank of St. Louis

Salem area help wanted ads online (approximate)

May: 10,510

April: 9,750

March: 8,750

February: 7,890

Statewide area help wanted ads online

May: 112,400

April: 104,000

March: 91,800

February: 80,400

Source: The Conference Board via Oregon Employment Department

 

Video lottery sales

Marion County

May: $8.4 million

April: $9.4 million

March: $11.8 million

February: $5.8 million

January: $212,084 (lottery locations limited)

Polk County

May: $925,767

April: $1.1 million

March: $1.3 million

February: $606,615

January: $27,453 (lottery locations limited)

Source: Oregon Lottery

 

Salem new business registrations

May: 617

April: 758

March: 766

February: 614

January: 582

Source: Oregon Secretary of State

 

Salem building permits

New single-family dwellings

May: 20

Total value for May 2021: $5.8 million

April: 42

March: 68

February: 59

January: 25

May 2020: 30

Total value for May 2020: $7.1 million

New multi-family dwelling units

May: 3

Total value for May 2021: $574,489

April: 15

March: 6

February: 246

January: 0

May 2020: 8

Total value for May 2020: $951,667

New commercial/industrial permits

May: 8

Total value: $11.6 million

April: 7

Total value: $2.8 million

March: 7

Total value: $6.6 million

February: 13

Total value: $8.9 million

January: 7

Total value: $12.7 million

May 2020: 39

Total value: $8.8 million

Source: city of Salem

Contact reporter Jake Thomas at 503-575-1251 or [email protected] or @jakethomas2009.

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